DALLAS, TX--(Marketwired - Feb 25, 2014) - Republic of Texas Brands, Inc. (PINKSHEETS: RTXBQ) has signed a letter of intent to acquire Chill Texas Inc. the exclusive distributor in Texas for the Hemp based Chillo energy drink made in Austria. Randy Safford COO says, "We are extremely excited about this company and we are confident it is a money maker based on orders we have already received for the Chillo product. By acquiring Chill Texas Inc. we will increase our margins by lowering our costs and is a logical move as one of the first companies that will be brought under the RTXBQ umbrella of Cannabis based products. We will be filing our reorganization plan shortly and the Chill Texas, Inc. acquisition will be part of the plan." The final closing will be post-bankruptcy.
Additionally, RTXBQ is already in various stages of discussions with other reputable hemp and medicinal marijuana operations to complement the anticipated acquisition. RTXBQ plans to create an umbrella of proven, high-growth operations within this lucrative market. Shareholders can expect more information on these complementary operations as negotiations allow.
About Republic of Texas Brands Incorporated:
Republic of Texas Brands Incorporated (RTXBQ) has a distinct unique brand and logo that captures the emotion attached to Texas and its independent attitude, recognized and loved around the world. Our mission is to find the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
To see the new direction the company is going please visit the company website at: http://www.republicoftexas.com
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.